The Successful Investor Hotline – Friday, August 22, 2008

Article Excerpt

MAPLE LEAF FOODS INC. $9.80, Toronto symbol MFI, fell 10% this week after it temporarily closed a plant in Toronto due to possible contamination of packaged meat products with listeria bacteria. The closure of the plant should give Maple Leaf time to identify the source of the problem and fix it. The company is also recalling all products produced at the plant since June 2, 2008. Maple Leaf’s swift and comprehensive action should limit any permanent harm to its reputation. However, the company will probably face the customary class-action lawsuit. Maple Leaf Foods is still a buy for long-term gains. FORTIS INC. $25.13, Toronto symbol FTS, has increased its stake in Caribbean Utilities Company, Ltd., from 54% to 56%. Caribbean Utilities is the sole supplier of electricity in the Cayman Islands. Fortis paid $23.9 million U.S. for the extra shares. That’s equal to 58% of the $44 million or $0.28 a share that Fortis earned before one-time items in the second quarter of…